arrears debt define
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Arrears (August 2007) Arrears (also sometimes known as an arrearage) is a legal term for the part of a debt that is overdue after missing one or more required payments. The amount of the arrears is the amount accrued from the date on which the first missed payment was due.
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amortization of premium Definition. Charges made against the interest received on a debt in order to offset a premium paid for the debt. Thus, with each periodic payment, a debtor is not only paying back interest, but also part of his or her premium. This leads to higher periodic payments than in the case when only interest is paid out.
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Government Budget Deficits and Government Debt Government debt is the stock of outstanding IOUs issued by the government at any time in the past and not yet repaid. Governments issue debt whenever they borrow from the public; the magnitude of the outstanding debt equals the cumulative amount of net borrowing that the government has done. The deficit is the addition in the current period (year, quarter, month, etc.) to the outstanding debt.
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- Definition of 'Public Debt'. Tweet. Public debt receipts and public debt disbursals are borrowings and repayments during the year, respectively, by the government. Definition:  Description: The difference between receipts and disbursals is the net accretion to the public debt.
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What is DEBT? A debt is a sum of money due by contract. It is most frequently due by a certain and express agreement, which fixes the amount, independent of extrinsic circumstances. But it is not essential that the contract should be express, or that it should fix the precise amount to be paid. U. S. v. Colt, 1 Pet. C C. 145, Fed.
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- 1 What Is A/R on a Trial Balance Sheet?  What Is A/R on a Trial Balance Sheet? A/R means accounts receivable, the master account that indicates the total amount customers owe a company at a given point, such as the end of a month or fiscal quarter.
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What Is a Debt Service Ratio In a Business Loan? What is Debt Service? Debt service is the amount of money required over a period of time to repay debts. It includes repayment of: principal and interest ; and lease payments (on business vehicles, for example) This amount is usually calculated for a year. Debt Service as an Important Key to Business Credit
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Which Fruit Is Low in Iron? Although they are a little bit higher in iron, mangoes, kiwi, star fruit, peaches, honeydew melon, pears, bananas, cantaloupe, lemons, watermelon, nectarines, blueberries, peaches, strawberries and pineapple are all relatively low in iron as well, containing less than 0.7 milligrams per serving.
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- An installment debt is a loan that is repaid by the borrower in regular installments. Installment debt is generally repaid in equal monthly payments that include interest and a portion of principal. It is a favored method of consumer financing for big-ticket items such as cars and appliances.
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What is 'Arrears' For example, mortgage interest in the U.S. is paid in arrears, which means that in the case of monthly payments, each payment covers principal repayment and mortgage interest for the month preceding the payment due date.verdue debt, liability or obligation. An account is said to be in arrears if one or more payments have been missed in transactions where regular payments are contractually required, such as mortgage or rent payments and utility or telephone bills.
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Arrears Payment at the end of a period is referred to by the singular arrear, to distinguish from past due payments. For example, a housing tenant who is obliged to pay rent at the end of each month, is said to pay rent in arrear, while a tenant who has not paid rental due for 30 days is said to be one month in arrears.
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debt Legal Definition of debt. 1  1 : something owed: as a : a specific sum of money or a performance due another especially by agreement (as a loan agreement) to pay the debts…of the United States — U.S. Constitution art.
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What are 'Accounts Receivable - AR' BREAKING DOWN 'Accounts Receivable - AR' On a public company's balance sheet, accounts receivable is often recorded as an asset, because there is a legal obligation for the customer to remit cash for the debt. If a company has receivables, this means it has made a sale but has yet to collect the money from the purchaser.
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- adjective in·debt·ed \in-ˈde-təd\. : owing something (such as money or thanks) to someone or something : in debt.
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What is 'Senior Debt' If a company goes bankrupt, senior debtholders, who are often bondholders or banks that have issued revolving credit lines, are most likely to be repaid, followed by junior debt holders, preferred stock holders and common stock holders.
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What is 'Installment Debt' Installment Debt. What is an 'Installment Debt'. An installment debt is a loan that is repaid by the borrower in regular installments. Installment debt is generally repaid in equal monthly payments that include interest and a portion of principal. It is a favored method of consumer financing for big-ticket items such as cars and appliances.
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What Does Accounts Receivable Financing Mean? Accounts receivables financing is a lending term used to describe an asset based business loan, where the business asset is the money due to them in unpaid invoices. With AR Funding, we will pay you a percentage of the invoice value up to 92%, and then assume responsibility for payment from your customer.
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Â§ 9-102. DEFINITIONS AND INDEX OF DEFINITIONS. (3) Account debtor means a person obligated on an account, chattel paper, or general intangible. The term does not include persons obligated to pay a negotiable instrument, even if the instrument constitutes part of chattel paper.
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What is 'Accounts Receivable Financing' Accounts Receivable Financing. What is 'Accounts Receivable Financing'. Accounts receivable financing is a type of asset-financing arrangement in which a company uses its receivables — outstanding invoices or money owed by customers — as collateral in a financing agreement.
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Delinquent Account Generally a customer with sustained arrears of 2 months or more. Similar to a default, but a Notice of Default may not have been served on all delinquent accounts.
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Arrearages Law and Legal Definition Arrearages Law and Legal Definition. Arrearages refers to the deficiency between the amount, if any, paid and the amount required under court order. It is often used in the context of child support of alimony payments in domestic relations law. Child support payments can't be discharged in bankruptcy, and courts usually will not retroactively cancel them.
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interest in arrears Definition. Interest on a loan which is due to be paid at the maturity date rather than periodically during the life of the loan. The interest leading up to the due date is payable but not yet paid. Opposite of interest in advance.efinition. Interest on a loan which is due to be paid at the maturity date rather than periodically during the life of the loan. The interest leading up to the due date is payable but not yet paid. Opposite of interest in advance.
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Nonrecourse Debt Nonrecourse Debt. Nonrecourse debt is debt for which the borrower is not personally liable. If the borrower defaults, the lender can take the property used to secure the loan, but no other property of the borrower. 1  Facebook. 2  Twitter.
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Debt Collection Law and Legal Definition Debt Collection. Debt collection is a deliberate attempt by a business to collect an obligation that has become past due. In normal transactions between two businesses, an invoice is rendered and payment is due within 30 days—unless, by special arrangement, a more generous schedule of payments has been agreed upon.
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Recourse vs. Nonrecourse Debt There are two types of debts: recourse and nonrecourse. A recourse debt holds the borrower personally liable. All other debt is considered nonrecourse. In general, recourse debt (loans) allows lenders to collect what is owed for the debt even after they've taken collateral (home, credit cards). Lenders have the right to garnish wages or levy accounts in order to collect what is owed.
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- A debtor is a person or enterprise that owes money to another party. A creditor is a person, bank, or other enterprise that has lent money or extended credit to another party. If Company X borrowed money from its bank, Company X is the debtor and the bank is the creditor.